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that would deal with chunk of the so-called fiscal cliff. >> while the white house has been confident the president has the upper hand, a new nbc/"wall street journal" poll suggests otherwise. asks who gets the blame if washington goes off the cliff? 19% said the president and democrats. 24% said republican. and 56% said they would be equally do blame. >> now the president just did a series of local tv interviews to put more pressure on john boehner and the republicans. in one of the interviews he said look, he has cut $1 trillion in spending. he is willing to do in the president's words a lot more. he still wants a big deal in the neighborhood of $4 trillion. we'll see if he and the speaker behind closed doors can get there. bret? >> bret: more on susan rice. and the fiscal cliff with the panel. but before we let you go, ed, what is the news about the president's new cabinet? there is news about that. >> chuck hague the former republican senator is now the leading contender for defense secretary. leon panetta expected to step down soon. the bottom line, he and the president met behin
that would deal with chunk of the so-called fiscal cliff. >> while the white house has been confident the president has the upper hand, a new nbc/"wall street journal" poll suggests otherwise. asks who gets the blame if washington goes off the cliff? 19% said the president and democrats. 24% said republican. and 56% said they would be equally do blame. >> now the president just did a series of local tv interviews to put more pressure on john boehner and the republicans. in...
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> reporter: as the deadline to reach a deal to avert the fiscal cliff draws ever closer, republicans say the real issue is spending cuts. >> listen, republicans want to solve this problem by getting the spending line down. the president wants to pretend that spending isn't the problem. that's why we don't have an agreement. >> reporter: a claim the white house denies, spokesman jay carney. >> let's just be clear. there is one party to these negotiations who has put forward a specific proposal for revenue and a specific proposal for spending cuts. even when the republicans-- and i saw speaker boehner do this earlier today-- insist that the president hasn't put forward spending cuts, one, it begs the question, what spending cuts have the republicans put forward? >> reporter: the president was asked if he was optimistic about reaching a deal. >> still a work in progress. >> reporter: but senate majority leader harry reid said republicans in congress should yield to public opinion about tax increases. >> speaker boehner knows or should know that the middle- class tax help that we have to
> reporter: as the deadline to reach a deal to avert the fiscal cliff draws ever closer, republicans say the real issue is spending cuts. >> listen, republicans want to solve this problem by getting the spending line down. the president wants to pretend that spending isn't the problem. that's why we don't have an agreement. >> reporter: a claim the white house denies, spokesman jay carney. >> let's just be clear. there is one party to these negotiations who has put forward...
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sandy, fiscal cliff, still humming, but we have more confirmation that it's for real and urban is getting its deal. it's also anthropologie, which does a lot of house wares. i want to focus on one that's definitely not getting the credit it deserves right now. near-term jitters, i'm talking about the amazing turn around in gap i know, no accounting for taste. the stock has sold off recently and viciously. $35 to the end of november, to $31 and change right now. and the pullback, a pause that refreshes. a great opportunity to buy the gap on weakness. you haven't had many chances to do that of late. this has been incredible. even with the recent decline, gap is still rallied, an astounding 70% year-to-date. those mammoth gains tell me that that has been fiscal cliff related as people go to their tax adviser and realize -- you know what? or get the register ringing. part of the selling in gap is a lot of people taking profits at the same time. something that will end when capital gains rates go up in a couple of weeks. and i was formulating in my own head, that once we get the higher tax rat
sandy, fiscal cliff, still humming, but we have more confirmation that it's for real and urban is getting its deal. it's also anthropologie, which does a lot of house wares. i want to focus on one that's definitely not getting the credit it deserves right now. near-term jitters, i'm talking about the amazing turn around in gap i know, no accounting for taste. the stock has sold off recently and viciously. $35 to the end of november, to $31 and change right now. and the pullback, a pause that...
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cliff deal done before christmas. what they are focused on is a so-called plan "b" where the house in the next few days may pass extension of the middle class tax cuts. the old bush tax cuts. then let the tax rates for the rich go up and fight it out in january and february over spending cuts. we'll see whether or not conservative goes along with that, if speaker boehner was party to that. the second big story is susan rice. in the last couple of hours calling the president and saying she is pulling her name out of consideration for secretary of state, all because of the controversy over benghazi, her reaction to the terror attack, whether or not she misled the public. bottom line this puts john kerry, democratic sources say, as the likely contender to be secretary of state i'm seeing the suvs pull up with speaker boehner right now. both the stories breaking right as we speak. you will see speaker boehner in a moment. but bottom line is you will remember at the post election news conference, the president made a big d
cliff deal done before christmas. what they are focused on is a so-called plan "b" where the house in the next few days may pass extension of the middle class tax cuts. the old bush tax cuts. then let the tax rates for the rich go up and fight it out in january and february over spending cuts. we'll see whether or not conservative goes along with that, if speaker boehner was party to that. the second big story is susan rice. in the last couple of hours calling the president and saying...
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. >> if i'm wrong, i'll jump over the fiscal cliff. >> it would be fiction, right? >> flush would equal fiction. >> you can figure that out. right? >> i wasn't involved in that. move on. >> mike, what are the options markets saying whether or not this deal could happen? >> they might have ramped up the likelihood a little. i don't think they've taken it all the way to the fact camp, otherwise we would see speculative put selling. what we did see, though, was the december 15 and january 15 calls were extremely active and the january 15 strike was actually the one that saw the most opening interest. and what we saw there were some buyers paying about 50 cents. that's speculating the stock would be about $15.50. up 10% from here. the way the deal was supposed to be structured, the amount of financing strikes me as speculative at best and i think that's probably how the options traders view it, as well. >> so, fiction. from mike. >> he knows how to play the game. >> all right. >> wait a minute. that's four to one, right? i'm not good at math -- >> how do you count? >> i
. >> if i'm wrong, i'll jump over the fiscal cliff. >> it would be fiction, right? >> flush would equal fiction. >> you can figure that out. right? >> i wasn't involved in that. move on. >> mike, what are the options markets saying whether or not this deal could happen? >> they might have ramped up the likelihood a little. i don't think they've taken it all the way to the fact camp, otherwise we would see speculative put selling. what we did see,...
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one is the fiscal cliff, two is the debt ceiling, and, three, is the big deal that has to be on the debt and deficit. unfortunately, those issues get von -- convuluded, especially in this town. the fiscal cliff is an artificial date. congress came in, says this law expires on this date. they extended it, expires, put in the sequestering, saying it expires on this date. it is a date. all they have to do is extend the date and allow themselves the time to discuss the issues, and instead, they cram the issues in a lame duck session and letting congress that got unlighted decisions that should be made by the people who should be making the decisions. that's a problem. the fiscal cliff can have real consequences. cbo came out and said that it would cause recession if we go off the fiscal cliff. i don't dispute that, but i do point out the fact that in 1993 when the taxes were already put in, many said they would cause a recession. they did not. the economy is improving on its own right now, and getting somewhat stronger so the impact of the fiscal cliff, while not something to be encouraged,
one is the fiscal cliff, two is the debt ceiling, and, three, is the big deal that has to be on the debt and deficit. unfortunately, those issues get von -- convuluded, especially in this town. the fiscal cliff is an artificial date. congress came in, says this law expires on this date. they extended it, expires, put in the sequestering, saying it expires on this date. it is a date. all they have to do is extend the date and allow themselves the time to discuss the issues, and instead, they...
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. >> what about the fiscal cliff, you think we get a deal by the end of next week? we going to get a deal? >> i don't see a long-term deal. >> it's pretty easy to come to that conclusion, brian, given the fact that they have had 13 months to discuss this and think about it and now we're down to 18 days to deal with medicare, medicaid and defense spending, what, social security, taxes. what else can we throw into the bucket? >> yeah. you can just throwing more and more in. i think it's clear that they won't be able to come up with comprehensive reform in the next two weeks. >> then the question is how do you want to allocate capital? leo are where are you on that? >> i think it's clear. what we don't want to do is go into treasuries at 1.5% for ten years. >> that's what ed says. >> equities still clearly are a great choice, especially companies with great balance sheets. every day we hear clients talking about how bad the federal government balance sheet is, but corporate america has great balance sheets. there's a lot going on that's positive, energy, reshoring, bus
. >> what about the fiscal cliff, you think we get a deal by the end of next week? we going to get a deal? >> i don't see a long-term deal. >> it's pretty easy to come to that conclusion, brian, given the fact that they have had 13 months to discuss this and think about it and now we're down to 18 days to deal with medicare, medicaid and defense spending, what, social security, taxes. what else can we throw into the bucket? >> yeah. you can just throwing more and more...
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both sides looking to see if the two men can find a way to reach a deal on the fiscal cliff. from the white house's perspective, what they are looking for is if there's any way, no doubt, for the speaker to budge on, from their point of view, rates. they still want to know if the speaker can give at all on rates. from the speaker's perspective, they are looking for spending cuts from the white house. the white house was far more aggressive from jay carney in the briefing about the speaker, about the gop position, insisting that republicans just haven't been giving enough and that they have been too vague overall. this was jay carney at the briefing earlier today, wolf. >> let me just say that while i personally am very fond of john boehner, his record of predicting what would happen if certain economic policies weren't instituted is a dismal. >> a different kind of attitude from the white house suggesting that as both sides are facing stalemate, they are positioning for a pr battle if the nation should go over the cliff, wolf. >> the neating is potentially, if it ends positiv
both sides looking to see if the two men can find a way to reach a deal on the fiscal cliff. from the white house's perspective, what they are looking for is if there's any way, no doubt, for the speaker to budge on, from their point of view, rates. they still want to know if the speaker can give at all on rates. from the speaker's perspective, they are looking for spending cuts from the white house. the white house was far more aggressive from jay carney in the briefing about the speaker,...
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are still far away from reaching the deal on the fiscal cliff, you'll be shocked to see what they did agree on. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >>> research in motion shares keep rallying. that stock more than doubling since hitting a nine-year low back in september when many thought the company might not survive. bertha coombs at the nasdaq market site with more on this. bertha? >> it's a real comeback kid, the comeback with the government that customs and immigration department is saying that they are going to try out the blackberry 10 after saying they would be the. all things reporting this afternoon, and part of the re
are still far away from reaching the deal on the fiscal cliff, you'll be shocked to see what they did agree on. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh......
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on the fiscal cliff negotiations. right now, dow down 76 points. fox news reports former republican senator hagel emerged at the leading con tender to be president obama's pick to be secretary of defense, according to several democrats briefed on the process. the same sources say senator john kerry is talked up within the administration as a more likely nominee for secretary of state over susan rice, the current u.s. ambassador not united nations. a new study suggests this christmas travel season could be the busiest in six years. aaa predicts more than 93 million americans hitting the highways over the holidays, just 400,000 people shy of the record set in 2006. we continue our count down to the closing bell with the woman who likes her politics the same hi way likes her martinis, shaken, not stirred. liz: no, a mojito, light on the rum, adam. get it right. >> you look like a vodka woman to me, i don't know. liz: never. can't deal with that. a rough year for jcpenney, but things changing. the stock popped, but now th
on the fiscal cliff negotiations. right now, dow down 76 points. fox news reports former republican senator hagel emerged at the leading con tender to be president obama's pick to be secretary of defense, according to several democrats briefed on the process. the same sources say senator john kerry is talked up within the administration as a more likely nominee for secretary of state over susan rice, the current u.s. ambassador not united nations. a new study suggests this christmas travel...
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president obama and house speaker john boehner set to meet today to discuss the fiscal cliff as the two sides have been struggling, to say the least, to reach a deal. speaker boehner says president obama wants tax increases but is resistant to spending cuts. the president is optimistic about a deal but acknowledges it's a work in progress. in public opinion, a poll from the pew research center 55% say the president is making a serious effort to reach a agreement. 32% of republican leaders. mike, we're hearing frustration from republicans but the breaking news, 5:00 p.m. east coast time these two getting together again. >> this is critical a 5:00 meeting at the white house between the president and speaker, the two key figures in trying to hammer out a deal. the republicans were trying to make the point spending is the nature of the government's problem, not tax revenue. they prepared a chart showing spending is expected to increase from now to 2041 while tax revenue is expected to hold consistent. so at one point today the speaker of the house sounded like he was kind of tired of answer
president obama and house speaker john boehner set to meet today to discuss the fiscal cliff as the two sides have been struggling, to say the least, to reach a deal. speaker boehner says president obama wants tax increases but is resistant to spending cuts. the president is optimistic about a deal but acknowledges it's a work in progress. in public opinion, a poll from the pew research center 55% say the president is making a serious effort to reach a agreement. 32% of republican leaders....
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. >> well, if we good over the fiscal cliff, it can't be good. and of course that ratchets up uncertainty. i think one of the things you can talk about the fed, talk about interest rates, but someone once said or someone said recently, it is a psychology, stupid. when we call on our customers, we see that most important thing is their psychology and getting a deal dpun would help that. >> how would that materially effect your company? would it change your hiring plans? >> i think it can. i think the thing do, if we go off the fiscal cliff, i don't know what depth of that effect would be, but couldn't be good. but we have seen that movie before. we went through recession probably the most whithering so i think ceos, at least our view of it is, is you have to have a good understanding of what are the long-term benefits for you. for us helping our van business, making sure that's good. investing in emerging markets and making sure that we roll the snap-on brand out of the garage to other industries. anything outside of that group, we would be more d
. >> well, if we good over the fiscal cliff, it can't be good. and of course that ratchets up uncertainty. i think one of the things you can talk about the fed, talk about interest rates, but someone once said or someone said recently, it is a psychology, stupid. when we call on our customers, we see that most important thing is their psychology and getting a deal dpun would help that. >> how would that materially effect your company? would it change your hiring plans? >> i...
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the news nation is following the road to the fiscal cliff which now appears to be filled with craters, not just potholes. the question now, are we back to square one? >> how you feeling about a deal? optimistic? >> still a work in progress. >> ifs and ands and buts will like candy and nuts f that was the case, every day would be christmas. my goal is we get to an agreement with the president of the united states that addresses this problem. >> don't even think about raising medicare age. we are not throwing america's seniors over the cliff to give a tax cut for the wealthiest people in america. >> the president is not going to stop spending. he is proposed -- >> senator -- >> more spending. so it's hard to work with someone who i think is intentionally trying to take us over this cliff. >> he is prepared to negotiate but it is not a tenable position to say that the tax cuts for the wealthy should be made permanent. it is not gonna happen. >> as for future talks between the president and house speaker bain per, so far, none are planned and all of this comes as our new nbc news/wall str
the news nation is following the road to the fiscal cliff which now appears to be filled with craters, not just potholes. the question now, are we back to square one? >> how you feeling about a deal? optimistic? >> still a work in progress. >> ifs and ands and buts will like candy and nuts f that was the case, every day would be christmas. my goal is we get to an agreement with the president of the united states that addresses this problem. >> don't even think about...
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. >>> 19 days and counting until the government goes over the fiscal cliff. your taxes automatically go up. at this moment i wish they were close to a deal, but after john boehner and house minority leader nancy pelosi spoke a short time ago, deep sigh. not there yet. take a listen. >> republicans put out a let they're had more signatures than ideas. it had like one number. that's not -- let's get real. let's really get real about this if we are going to have a solution. >> here we are at the 11th hour and the president still is not serious about dealing with this issue right here. it's this issue. spending. we want to talk about polling. most americans agree that spending is a much bigger problem than raising taxes. we want to deal with this in a responsible way. >> as you just heard, house speaker said the white house is not serious about cutting spending, but the white house said it could be over if republicans agreed to raise taxes on the top 2%. guess what. 76% of adults surveyed agree with the president on this one. this is according to the polls as the
. >>> 19 days and counting until the government goes over the fiscal cliff. your taxes automatically go up. at this moment i wish they were close to a deal, but after john boehner and house minority leader nancy pelosi spoke a short time ago, deep sigh. not there yet. take a listen. >> republicans put out a let they're had more signatures than ideas. it had like one number. that's not -- let's get real. let's really get real about this if we are going to have a solution. >>...
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we talked about fiscal cliff having problems, not having the tools to deal with the fiscal cliff. the fed not having it, should we go over that. there we are dealing with the aftermath. remember something folks, september 14 is the high for the s&p this year. you know why that is important in september 13 is the fed meeting. they bought into the fed meeting and sold right after that, sue. and they are doing that again today. we are repeating what happened just a few months ago. i think that's why it is very important. elsewhere, defense stocks. here is a group that's very worried about frustration when mr. bernanke started getting tampered with questions on the fiscal cliff. you saw the defense stocks move down. very rare miss in home builders. they had disappointing earnings and that has not happened much in the last couple quarters with home builders. >> certainly hasn't been. bob, i will see you later. >> commodities taking a hit after the fed's move. oil is down, gold is dropping below the 1700 level. sharon is at the nimex with a $20 loss in gold, sharon? >> fading quickly fr
we talked about fiscal cliff having problems, not having the tools to deal with the fiscal cliff. the fed not having it, should we go over that. there we are dealing with the aftermath. remember something folks, september 14 is the high for the s&p this year. you know why that is important in september 13 is the fed meeting. they bought into the fed meeting and sold right after that, sue. and they are doing that again today. we are repeating what happened just a few months ago. i think...
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new verbal sparring on the fiscal cliff and no new progress on a deal. house speaker boehner says he is heading to ohio tomorrow. that is not a good sign. with 18 days and counting until the new year is it too late to avoid the cliff? tracy: republican congressman tom cole is our guest. he says congress should pass the president's tax hikes but it won't solve the whole problem. ashley: businesses bracing for the fiscal cliff and even more government regulation. chairman of oil and natural gas produce other energy xx 1, john shiller is here and how his company is bracing for the worse. tracy: time for stocks as we do every 15 minutes. nicole petallides on the floor of the new york stock exchange. nicole, we were saying, sitting here yesterday at this time, the market was up about 60 points. now, we are down. so much for the bernanke rally, huh? >> that's right. it was a little celebrate, good times around this time after we already heard from the fomc and quantitative easing and accommodative fed. we heard from ben bernanke and the truth is everybody real
new verbal sparring on the fiscal cliff and no new progress on a deal. house speaker boehner says he is heading to ohio tomorrow. that is not a good sign. with 18 days and counting until the new year is it too late to avoid the cliff? tracy: republican congressman tom cole is our guest. he says congress should pass the president's tax hikes but it won't solve the whole problem. ashley: businesses bracing for the fiscal cliff and even more government regulation. chairman of oil and natural gas...
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as president obama and congressional leaders race to avert the fiscal cliff, americans remain concerned that whatever budget deal they strike will cut too much from medicare and social security, according to the poll. more of the americans surveyed are worried about such cutbacks than seeing their tax bills rise, the latest united technologies national journal congressional connection poll has found. and i was looking at who was involved in the poll, and in total 35% of americans worry it will cut too much from government programs like medicare and social security. 27%, that's eight points less, that it will raise taxes on people like you. 15% it won't meet its targets for reducing the federal deficit and debt. 13% it will allow too much for federal -- for too much federal spending. only 13% are worried it will allow for too much federal spending in the next two years. but when i looked at, for example, women, 40% of women are most worried about those cuts in social security and medicare and other government programs. 46% of people whose income of $30,000 or less, that's what they're re
as president obama and congressional leaders race to avert the fiscal cliff, americans remain concerned that whatever budget deal they strike will cut too much from medicare and social security, according to the poll. more of the americans surveyed are worried about such cutbacks than seeing their tax bills rise, the latest united technologies national journal congressional connection poll has found. and i was looking at who was involved in the poll, and in total 35% of americans worry it will...
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on the fiscal cliff. the house majority and minority leaders issued a clear message today and yesterday don't book your plane tickets. >> we don't know if we would be home for the rest of hanukkah or christmas. let's really get real about this if we're going to have a solution, and let's stay here and sit at that table. >> we've said we're committed to staying here. we're going to stay here right up until christmas eve throughout the time and period before the new year. >> there are no talks scheduled today between the president and house speaker boehner. meanwhile, fed chairman ben bernanke, the man who coined the term fiscal cliff, urgently warned that just approaching the edge is causing damage. >> why is it that consumer confidence dropped so sharply this week? why is it that small business confidence dropped so sharply? why are the markets volatile, even though we're not yet even reached the point of the fiscal cliff potentially kicking in? it's already affecting business investment and hiring decisi
on the fiscal cliff. the house majority and minority leaders issued a clear message today and yesterday don't book your plane tickets. >> we don't know if we would be home for the rest of hanukkah or christmas. let's really get real about this if we're going to have a solution, and let's stay here and sit at that table. >> we've said we're committed to staying here. we're going to stay here right up until christmas eve throughout the time and period before the new year. >>...
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to avert the fiscal cliff it is keeping busy with other business. it is passing the no fly act to allow them to determine which luggage will be rescreened. most bags with checked a second time and that leads to a lot of people missing their flights. we're back after the break. you know who's coming on to me now? you know the kind of guys who do like verse mortgage commercials? those types are coming on to me all the time now. >> she gets the comedians laughing... >> that's hilarious! >> ...and the thinkers thinking. >> okay, so there's wiggle-room in the ten commandments is what you're telling me. >> you would rather deal with ahmadinejad then me. >> absolutely! >> and so would mitt romeny. >> she's joy behar. >> and the best part is that current will let me say anything. what the hell were they thinking? >> only on current tv. [ singing christmas carols in background ] aunt sally's singing again. it's a tradition honey. [ singing christmas carols ] mmmm. [ female announcer ] make new traditions with pillsbury grands! cinnamon rolls. ♪ ♪ [ femal
to avert the fiscal cliff it is keeping busy with other business. it is passing the no fly act to allow them to determine which luggage will be rescreened. most bags with checked a second time and that leads to a lot of people missing their flights. we're back after the break. you know who's coming on to me now? you know the kind of guys who do like verse mortgage commercials? those types are coming on to me all the time now. >> she gets the comedians laughing... >> that's...
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during the fiscal cliff negotiations, some have possible ited that all -- posited that all that is at stake is a return to the tax rates of the clinton era. but that is not what is happening with tax rate on capital gains. during the latter part of the clinton era, a republican majority in congress was able to get agreement on cutting the top tax rate on capital gains to 20% at that time. if the tax rate on capital gains remains at the 2012 rate of 15%, coupled with the new 3.8% tax on net investment income, capital gains will be taxed at 18.8% very close to the clinton era rate. a 5% increase on the tax on capital gains coupled with the increases imposed by obamacare will result in a rate of 23.8%, well above the tax rate on capital gains at the end of the 1990's. and we should not go down this road. this is said specifically by the senator who along with senator lieberman pushed very hard for these lower capital gains rates. it was a hatch-lieberman bill that really was instrumental in bringing these rates down to the current level. there are a number of arguments on behalf of prefe
during the fiscal cliff negotiations, some have possible ited that all -- posited that all that is at stake is a return to the tax rates of the clinton era. but that is not what is happening with tax rate on capital gains. during the latter part of the clinton era, a republican majority in congress was able to get agreement on cutting the top tax rate on capital gains to 20% at that time. if the tax rate on capital gains remains at the 2012 rate of 15%, coupled with the new 3.8% tax on net...
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cliff deal done. as we take a look, live look, what will be his news conference, we do see a chart, mike. that can always get a little scary. what is the chart for and what are they going to explain? tell us a little bit about the democrat side because we expect to hear from the democrats today. what is their frustration with the process. >> reporter: nancy pelosi, the democratic leader in the house talked to reporters a few moments ago she noted the clock is really ticking. if you want to get a deal it needs to be hammered out in the next day or some there is great anxiety with the christmas holiday coming up. with the procedural things you need to do to get legislation done. so the pressure is really on. pelosi talked a little bit what it was like when she was speaker and she had a deal with war funding with many is of her members. check this out. >> it's tough. but you have to do it. so is the point you don't want to put your members on spot figure it out. we did. figure it out. and than, then go f
cliff deal done. as we take a look, live look, what will be his news conference, we do see a chart, mike. that can always get a little scary. what is the chart for and what are they going to explain? tell us a little bit about the democrat side because we expect to hear from the democrats today. what is their frustration with the process. >> reporter: nancy pelosi, the democratic leader in the house talked to reporters a few moments ago she noted the clock is really ticking. if you want...
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the fiscal cliff growing ever closer and no deal inside. both saying congress is christmas break may be canceled. dennis: bah humbug. fiscal cliff fears have said demand for coins soaring. the highest level in more than two years. edmund, thank you for being with us. when you hear that, what do you instantly think? >> the reason i have a smile on my face is because a lot of my friends know i served at the white house when bernanke was on the economic advisers. when a big move like this happens my phone rings off the hook. what does this mean for gold? what i have been telling all my friends is this indicates a tremendous amount of uncertainty and volatility. dennis: a piece of paper, why isn't that enough. why do i need the physical thing >> it is no different than a stock or a bond. i brought some show and tell, if you do not mind. here are two gold coins. this one, 24 karat pure gold. it is very heavy. when i was mint director in 2006, i authorized the first production of that. you cannot why those government directly. you can buy them fr
the fiscal cliff growing ever closer and no deal inside. both saying congress is christmas break may be canceled. dennis: bah humbug. fiscal cliff fears have said demand for coins soaring. the highest level in more than two years. edmund, thank you for being with us. when you hear that, what do you instantly think? >> the reason i have a smile on my face is because a lot of my friends know i served at the white house when bernanke was on the economic advisers. when a big move like this...
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cliff deal. they want a deal in the next two days. >> reporter: nancy pelosi said minutes ago it's time to act. she said members of congress need to engineer a path forward. they must figure out a plan in the next two days. she repeated what was said yesterday, consumer spending confidence are both down. both say without a deal employers won't hire and the unemployment rate will likely get worse. >> if we don't act the economy will go over the cliff. not just the budget. the economy will go over the cliff. what more motivation do our republican colleagues have than to get the job done? >> reporter: and the house speaker will be speaking to the media on the cliff in just a few minutes. live in washington. ktvu channel 2news. >> if you watch tv starting today commercials aren't supposed to be louder than the tv shows you are watching. the calm act requires broadcasters, cable, satellite and other video programmers to make sure the commercials are the same volume as the tv shows around them. the law
cliff deal. they want a deal in the next two days. >> reporter: nancy pelosi said minutes ago it's time to act. she said members of congress need to engineer a path forward. they must figure out a plan in the next two days. she repeated what was said yesterday, consumer spending confidence are both down. both say without a deal employers won't hire and the unemployment rate will likely get worse. >> if we don't act the economy will go over the cliff. not just the budget. the economy...
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cliff deal. dealing with those cuts might force some action. that's going to be necessary. the stalemate right now is genuine. president obama wants republicans to commit publicly to raising income tax rates on the top 2% of households. republicans want the president to commit to spending cuts. then they'll talk about raising taxes next year in the context of tax reform but neither side trusts each other's motives or willingness to cut a deal. that lack of trust as well as a lack of shared history of cutting deals is what's blocking progress and preventing a compromise. charlie and gayle. >>> major garrett, thanks. >>> this morning in london the coroner's office entered the prognosis of the nurse who was part of the prank. >> charlie daggett is outside of the coroner's court. what can you tell us? >> reporter: well, good morning to you, gayle. british police confirmed this morning that the bodies of jacintha saldanha was found hanging from a scarf. the mother of two was discovered by a colleague
cliff deal. dealing with those cuts might force some action. that's going to be necessary. the stalemate right now is genuine. president obama wants republicans to commit publicly to raising income tax rates on the top 2% of households. republicans want the president to commit to spending cuts. then they'll talk about raising taxes next year in the context of tax reform but neither side trusts each other's motives or willingness to cut a deal. that lack of trust as well as a lack of shared...
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the fiscal cliff hits and was he hopeful or not? what was your sense? >> well, the president i think is resolved. he knows what he needs to do because he's been talking to the american public. he knew that the two people in my office were single moms. and a man who was self-employed and caring for his ailing mom. and both of them are not in the mood to get a $2,000 tax increase because the republicans won't compromise. >> but on that note there, those two -- again, residents, from minute minnesota, what was their reaction to what they heard from the president? the conversation that was had? >> they solely agree, that the president is absolutely on the right track. and i asked them to hold tough because they don't want their taxes increased any more. and they don't have to be. because those at the very top, should be asked to give a little more. and for the past year, we had a big debate in this country. >> do they want to compromise? >> they absolutely want to compromise. and they recognize the president has done that. in the last y
the fiscal cliff hits and was he hopeful or not? what was your sense? >> well, the president i think is resolved. he knows what he needs to do because he's been talking to the american public. he knew that the two people in my office were single moms. and a man who was self-employed and caring for his ailing mom. and both of them are not in the mood to get a $2,000 tax increase because the republicans won't compromise. >> but on that note there, those two -- again, residents, from...
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. >> the fiscal cliff deal is really about tax hike, that's the primary component is about the tax hikes. the spending is a very little percentage. we're focusing on a deal rather than the larger economic issues. i think that's the problem, by talking fiscal cliff, it's distracting us from the underlying issue, and nobody is talking about that. charles: that's the war that the president won. that's what you are saying, the president has already established that narrative and the republicans may have missed their opportunity to counterargue. >> he did ask for more revenue, the question is how does he get it, whether higher rates or simply deductions and such? stuart: you call it as it is. dan, thank you very much. >>> john stossel said something that offended christians two weeks before christmas. we will tell you what he said and i'm going to talk to him about it, harshly, next. ♪ and heaven and nature sing ♪ joy to the world ♪ the savior reigns ♪ making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take acti
. >> the fiscal cliff deal is really about tax hike, that's the primary component is about the tax hikes. the spending is a very little percentage. we're focusing on a deal rather than the larger economic issues. i think that's the problem, by talking fiscal cliff, it's distracting us from the underlying issue, and nobody is talking about that. charles: that's the war that the president won. that's what you are saying, the president has already established that narrative and the...
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cliff deal. roland's right. democrats won the election. they're sitting in the catbird seat. they don't want to include spending cuts and president obama doesn't think he needs to. if we go over the cliff other polls suggest republicans will get the blame. they have most of the leverage, therefore we don't get to a compromise or a deal. one calf national, republicans recognized this lack of leverage. they looked into 2013 and see a couple months in we have a debt ceiling deal. if we don't do a compromise now we're going to hold you during that debt ceiling debate and get spending cuts out of you then and president obama does not want to relive that 2011 catastrophe, chaos. >> roland, before you go, i didn't hear anything, it was all, it sounded like charlie brown to me after i heard you say roland's right. i don't know if i've ever heard you utter those words, will cain. >> actually he often says that. this is not a shocker. it's not breaking news and exclusive. it happens a lot. >> it's a just i
cliff deal. roland's right. democrats won the election. they're sitting in the catbird seat. they don't want to include spending cuts and president obama doesn't think he needs to. if we go over the cliff other polls suggest republicans will get the blame. they have most of the leverage, therefore we don't get to a compromise or a deal. one calf national, republicans recognized this lack of leverage. they looked into 2013 and see a couple months in we have a debt ceiling deal. if we don't do a...
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interestingly folks that are paying more attention to the fiscal cliff story are more pessimistic. it's the folks paying less attention that are more optimistic. judging by what we're hearing from negotiators, the public clearly knows something is up in the bad way. >> i remain the most optimistic person in this town but we've got some serious differences. the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff and the more person jobs are placed in jeopardy. >> the white house in turn insists its republicans are being inflexible. >> i don't believe that we've heard anything from the leadership that suggests they have moved off their position. they have refused to accept the fundamental fact that hiring -- the top 2% of earners in america are not going to have their tax cuts extended. >> the two sides have been swapping proposals this week but insiders say they didn't view the last white house plan as a serious counteroffer so they resent their original proposal to the president. the problem isn't just there's a big gulf between the tw
interestingly folks that are paying more attention to the fiscal cliff story are more pessimistic. it's the folks paying less attention that are more optimistic. judging by what we're hearing from negotiators, the public clearly knows something is up in the bad way. >> i remain the most optimistic person in this town but we've got some serious differences. the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff and the more person jobs are...
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. >> the clock is ticking to reach a deal on the "fiscal cliff." >> i think it's going to be extremely difficult to get it done before christmas. >> the president and i have pretty frank conversations about just how far apart we are. >> i'm slowed down a little bit but i have to tell you a ran three miles in 29 minutes. >> governor brown reveals he is battling prostate cancer. >> how do you say, i love the yu ming school? [ non-english language ] >> from across the bay... to around the world... ♪ [ music ] >> ... the stories that matter on "eyewitness news this morning." ♪ [ music ] >> your realtime captioner: linda marie macdonald >>> good morning, everyone. it's thursday, december 13. i'm michelle griego. >> good morning. i'm frank mallicoat. it's 6:31. he bragged about his speedy trip through the broadway tunnels. strange story. >> but now a san francisco police sergeant is changing his story. elizabeth wenger has more on the investigation. >> reporter: good morning. the whole thing is just kind of crazy. so that video appears to show a san francisco cop just gunning it through
. >> the clock is ticking to reach a deal on the "fiscal cliff." >> i think it's going to be extremely difficult to get it done before christmas. >> the president and i have pretty frank conversations about just how far apart we are. >> i'm slowed down a little bit but i have to tell you a ran three miles in 29 minutes. >> governor brown reveals he is battling prostate cancer. >> how do you say, i love the yu ming school? [ non-english language ]...
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real consequences of the approaching fiscal cliff. every day that passes without a deal only increases uncertainty in the markets and puts the brakes on potential economic activity. failure to bring the national debt under control threatens our country's future. in the weeks following the election, the message was clear from the people of this country. they want the people in this capitol, they want the people in washington to come together to find reasonable balanced solutions to our nation's problems. we need to show the country that we are serious about working together to address our fiscal challenges, reducing the cost of borrowing and strengthening our financial outlook. the sooner we can agree on a long-term balanced deficit-reduction package, the better for our economy and the better for our country. it is time to put political differences aside to work on an agenda that strengthens our economy, promotes fiscal responsibility and increases global competitiveness. i've always said that we need to make things in america, that we
real consequences of the approaching fiscal cliff. every day that passes without a deal only increases uncertainty in the markets and puts the brakes on potential economic activity. failure to bring the national debt under control threatens our country's future. in the weeks following the election, the message was clear from the people of this country. they want the people in this capitol, they want the people in washington to come together to find reasonable balanced solutions to our nation's...
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to avoid the fiscal cliff. the speaker set to given a update out state of negotiations with the white house in two hours. we will bring brink that to you live t did the mark it's job to deal of what happened with ben bernanke's comments and now the target in terms of tying interest rates to unemployment, which is a very new and big development for the fed. >> cnbc is talking over and over again, 2 million jobs to be lost, not if but when we go over the cliff. ben bernanke is listening to what this network is saying, recognizing there is going to be a dram mat hillsborough county job loss if we go over the cliff that is force austerity, that is firing people. look at spain when they got serious. italy. it meant a lot of firings. he says i see what we are going to do follow these countries that have fiscal responsibility a lot of people are going to be fired. don't worry, i'm going to do my best. what what are you going to do to keep people employed? >> keeping the heat on congress, came up a number of times, of
to avoid the fiscal cliff. the speaker set to given a update out state of negotiations with the white house in two hours. we will bring brink that to you live t did the mark it's job to deal of what happened with ben bernanke's comments and now the target in terms of tying interest rates to unemployment, which is a very new and big development for the fed. >> cnbc is talking over and over again, 2 million jobs to be lost, not if but when we go over the cliff. ben bernanke is listening to...
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. >> the clock is ticking to reach a deal. >> okay that "fiscal cliff." >> i think it will be difficult to get it done before christmas. >> the president and i had frank conversations about how far apart we are. >> i'm slowed down a little bit but i have to tell you i ran three miles in 29 minutes. >> governor brown reveals he is battling prostate cancer. >> how do you say, i love the yu ming school? [ non-english language ] >> from across the bay to around the world... >> ♪ rolling down this trail ♪ >> the stories that matter on "eyewitness news this morning." ♪ [ music ] company k captions by: caption colorado comments@captioncolorado.com >>> good morning. it's thursday, december 13. i'm michelle griego. >> i'm frank mallicoat. it's 5:31. a developing story on the peninsula a deadly accident blocking a lane on the san mateo bridge. >> let's get to gianna now with an update. >> all right. thank you very much. at one point they were hoping to have lanes cleared by 5:30 but as you can see in our live shot here, lanes are still shut down. the right lane completely closed westbound 9
. >> the clock is ticking to reach a deal. >> okay that "fiscal cliff." >> i think it will be difficult to get it done before christmas. >> the president and i had frank conversations about how far apart we are. >> i'm slowed down a little bit but i have to tell you i ran three miles in 29 minutes. >> governor brown reveals he is battling prostate cancer. >> how do you say, i love the yu ming school? [ non-english language ] >> from...
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cliff deal? >> yes, i think one of the reasons that the sequestration has gotten less attention is because the operating assumption -- more than assumption, i think the operating understanding of people involved in discussions is if you can resolve the other pieces then you can use the deficit reduction achieved from the other components, both the revenue component and the cut component to replace the sequester. whether you replace it on a 10 year basis which costs about $1 trillion or if you do it on a year basis which is about $110 billion. whatever we come up with as part of an agreement should certainly be able to offset at very least the first year of the sequester. onyou can't get an agreement all the issues, including the tax piece, could you come up with a smaller package to avoid the sequester? of course, that is possible but i don't know how likely. we could do that quickly if people were willing to put together a package of $110 billion in both revenue and cuts to replace the sequester
cliff deal? >> yes, i think one of the reasons that the sequestration has gotten less attention is because the operating assumption -- more than assumption, i think the operating understanding of people involved in discussions is if you can resolve the other pieces then you can use the deficit reduction achieved from the other components, both the revenue component and the cut component to replace the sequester. whether you replace it on a 10 year basis which costs about $1 trillion or if...
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a deal done on the fiscal cliff. we want to talk to congressman james langford, a republican from the state of oklahoma. nice to have you with us, sir. we appreciate your time. >> thank you. >> you have in all seriousness been warned not to make plans for christmas. what do you think is the likelihood in fact that a deal would be done before christmas, number one? and what exactly are they telling you to do or not do? >> at this point we've been told by eric cantor and speaker boehner just to hold the schedule through the rest of the year. that's the same thing we heard right after the election. hang on to the calendar and we'll watch and see how this unfolds. obviously americans work through the holidays a lot and so as members of the house and senate, we'll continue to do that as well. >> how will it work low gistically. you're done today, right? the last working day, you're off tomorrow. do you go anyway and everybody is just on call meaning you'd be brought back to do some sort of a vote? >> americans loose track
a deal done on the fiscal cliff. we want to talk to congressman james langford, a republican from the state of oklahoma. nice to have you with us, sir. we appreciate your time. >> thank you. >> you have in all seriousness been warned not to make plans for christmas. what do you think is the likelihood in fact that a deal would be done before christmas, number one? and what exactly are they telling you to do or not do? >> at this point we've been told by eric cantor and speaker...
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to avoid the looming fiscal cliff before christmas. >> it's discouraging that our elected leadership in congress can't come together to get the job done for the american people. >> reporter: both sides say it's putting a damper on the holidays. >> i think it's going to be extremely difficult to get it done before christmas. ? . >> in anticipation, there is no agreement. congressional leaders told lawmakers not to make holiday travel plans. >> we're going to stay here right up until christmas eve, throughout the time and period before the new year because we want to make sure that we resolve this in an acceptable way for the american people. >> president obama and house speaker john boehner continue to talk. >> but we've got serious differences. >> those differences are already affecting americans. fed chairman ben bernanke says just the threat of the fiscal cliff is dragging down the economy. >> it's already affecting business investment and hiring decisions by creating uncertainty. >> that's unwelcome news for hundreds who lined up at a job fair in new york on wednesday. >> basicall
to avoid the looming fiscal cliff before christmas. >> it's discouraging that our elected leadership in congress can't come together to get the job done for the american people. >> reporter: both sides say it's putting a damper on the holidays. >> i think it's going to be extremely difficult to get it done before christmas. ? . >> in anticipation, there is no agreement. congressional leaders told lawmakers not to make holiday travel plans. >> we're going to stay...
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be optimistic and rise above, we deal with the fiscal cliff, then the fiscal abyss. the fed keeps us sort of above stall speed and then we do some structural things, would that work? >> that's -- joe, that's exactly what we're all hoping for. we hope that republicans and democrats, the congress, the administration, can enact bold structural reforms to make the economy more growth oriented. and you know, live within our means. manage our budgets. if we can do that, then the fed is building a bridge to the congress. >> you talking about the congress? >> pardon me? >> live within our means and manage our budgets? are you talking about the congress? >> well, you know, we've done it in the past. we can all be very bearish on our political system. but our political system over the long-term works. republicans and democrats have come together before, have made tough choices. if we can do it again, then bernanke's actions are not going to be for naught. they're going to be buying time for leaders in washington to take over. but if leaders in washington don't take over, then
be optimistic and rise above, we deal with the fiscal cliff, then the fiscal abyss. the fed keeps us sort of above stall speed and then we do some structural things, would that work? >> that's -- joe, that's exactly what we're all hoping for. we hope that republicans and democrats, the congress, the administration, can enact bold structural reforms to make the economy more growth oriented. and you know, live within our means. manage our budgets. if we can do that, then the fed is building...
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still not close to reaching any kind of a deal. >> the president's plan to avert the fiscal cliff still does not meet the two standards that i laid out today after the election. his plan does not fulfill his promise to bring a balanced approach to solving this problem. it's mainly tax hikes. and his plan does not begin o solve our debt crisis. it actually increases spending. the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff and the more american jobs are placed in jeopardy. >> gretchen: so with both sides still hung up over tax hikes and spending cuts, can they come it a consensus in time to avert going off the cliff? let's ask texas congressman jeb hensarling who joins me live this morning. good morning to you. >> good morning. how are you? >> gretchen: doing just fine, thank you so much. it's interesting because it appears from john boehner that the president isn't budging on the spending cuts. yet i want to point you in the direction of a new fox news poll that came out this morning that said that if there are tax increases, should
still not close to reaching any kind of a deal. >> the president's plan to avert the fiscal cliff still does not meet the two standards that i laid out today after the election. his plan does not fulfill his promise to bring a balanced approach to solving this problem. it's mainly tax hikes. and his plan does not begin o solve our debt crisis. it actually increases spending. the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff and the more...
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>> a new poll put out by nbc "wall street journal" on the fiscal cliff how americans want to see this resolved. 65% say -- >> bill: they want a deal. >> congressional leaders should make a compromise and make a deal which includes higher tax rates for wealthier americans and cuts to entitlement programs the people have spoken. make it happen. >> bill: you know what, on the higher tax rates, what gets me is so john boehner and the republican leadership are fighting for the 2%, right and they don't care about the 98%. this poll proves it. >> announcer: this is the "bill press show." every day presents another exciting issue. from financial regulation, iran getting a nuclear bomb, civil war in syria, fraud on wall street, destruction of medicare and medicaid. there are real issues here. having been a governor, i know that trade-offs are tough. things everyday exploding around the world that leave no shortage for exciting conversations. i want our viewer to understand why things have happened. at the end of the show, you know what has happened, why its happened and more importantly, what'
>> a new poll put out by nbc "wall street journal" on the fiscal cliff how americans want to see this resolved. 65% say -- >> bill: they want a deal. >> congressional leaders should make a compromise and make a deal which includes higher tax rates for wealthier americans and cuts to entitlement programs the people have spoken. make it happen. >> bill: you know what, on the higher tax rates, what gets me is so john boehner and the republican leadership are...
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. >>> let's get to politics here at home and the fiscal cliff. one thing we could probably agree with here, the american people would love to see a deal before new year's day. that's according to a new nbc/"wall street journal" poll. in fact, a majority of both democrats and republicans say they would like their leaders to compromise even if it means giving ground on long-held party positions. >> wow, look at that. >> so you know, at this point, what does anybody have to lose but to come together and make a deal? expectations are in check with respondents equally divided, 48%-48% on whether a deal will actually get done. if there's no agreement, 56% say both sides will be to blame. 24% say it will be the republicans' fault, while 19% will point the finger at president obama. >> again, let's stop and freeze on that number again. this is a number that is borne not out of what's been happening over the past couple weeks but what's been happening over the past couple years. the republicans have damaged their brand in such a way that the benefit of th
. >>> let's get to politics here at home and the fiscal cliff. one thing we could probably agree with here, the american people would love to see a deal before new year's day. that's according to a new nbc/"wall street journal" poll. in fact, a majority of both democrats and republicans say they would like their leaders to compromise even if it means giving ground on long-held party positions. >> wow, look at that. >> so you know, at this point, what does anybody...
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. >> if a deal can't be reached before january the 1st we will go over that fiscal cliff we talked so much about. as the clock ticks where do merps stand on the troubled economy. peter doocy is live with brand new poll numbers. >> hi heather. we have been hearing so much about what the principal negotiators think about the way around the fiscal cliff. the latest is that president obama is troubled by speaker boehner's suggestion that tax cuts to the wealthy should be permanent while speaker boehner says the president moved the goal post and wants too much in revenue. something we don't hear about is public opinion. most registered voters 57 percent feel the best way to deal with the budget problems is with cuts in spending. 20 percent think tax increases are a better solution and a little less 18 percent favor a balanced approach of cuts and tax hikes. and when asked if raising taxes on the wealthy is enough to solve the country's budget problems, 33 percent of registered voters said yes. but man fee more, 61 percent said spending cuts are necessary as well. this comes as three quarte
. >> if a deal can't be reached before january the 1st we will go over that fiscal cliff we talked so much about. as the clock ticks where do merps stand on the troubled economy. peter doocy is live with brand new poll numbers. >> hi heather. we have been hearing so much about what the principal negotiators think about the way around the fiscal cliff. the latest is that president obama is troubled by speaker boehner's suggestion that tax cuts to the wealthy should be permanent while...
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unemployment rate. >>> straight ahead on the program, investors are awaiting a fiscal cliff deal, but our next guest says the dollar remain aes safe haven bet even if washington goes over it. find out why when we come back. another business win. aes safe hf washington goes over it. find out why when we come back. if washington goes over it. find out why when we come back. if washington goes over it. find out why when we come back. n if washington goes over it. find out why when we come back. f washington goes over it. find out why when we come back. is pretty amazing. we interact with our offices, anywhere, anytime. charles, you're one of the greatest losers of all time. thank you. >>> let's take a look at the european session. ibex has been flipping back and forth between positive and negative this morning. a debt auction from italy and spain went off relatively well this morning. the ftse lower by .14%. the xetra dax has been the underperfounde underperfo underperformer, down .3%. flipping over to the u.s. now, here is what's on the agenda today in the u.s. a triple play with jobles
unemployment rate. >>> straight ahead on the program, investors are awaiting a fiscal cliff deal, but our next guest says the dollar remain aes safe haven bet even if washington goes over it. find out why when we come back. another business win. aes safe hf washington goes over it. find out why when we come back. if washington goes over it. find out why when we come back. if washington goes over it. find out why when we come back. n if washington goes over it. find out why when we come...
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on the fiscal cliff that prevents the economy from falling back into recession, susie. >> susie: well, he better wish that again when he blows out the candles on his cake. at the present -- you know, i was struck by how much he talked about the fiscal cliff in very clear language, saying that it is a serious problem, it is already impacting the economy. and here is the important part: there is really nothing more the fed can do about it to offset going over the cliff. darren, you've been talking to so many lawmakers on the hill. do you think they're getting his message, and also in the white house as well? >> i really don't think so. i think they're aware that there are economic risks out there, but the battle between the president and the republican party and the speaker is kind of like that old saying about when elephants fight, the grass gets crushed. >> susie: i never heard that before. >> well, they're focused on the very big issue of tax rates, what the future of the fiscal policy of the country is. yes, they understand there are some economic risks, but i think they're battling
on the fiscal cliff that prevents the economy from falling back into recession, susie. >> susie: well, he better wish that again when he blows out the candles on his cake. at the present -- you know, i was struck by how much he talked about the fiscal cliff in very clear language, saying that it is a serious problem, it is already impacting the economy. and here is the important part: there is really nothing more the fed can do about it to offset going over the cliff. darren, you've been...
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to avoid the fiscal cliff. the warning comes after president obama talked with boehner last night on the phone. sources say it was a tense conversation. experts warn of a new recession if a deal can't be reached in 20 days. >>> new jersey governor chris christie says it's ridiculous to say he couldn't be president because of his weight. he pushed back at his critics in an interview with abc's barbara walters. the republican governor is rumored to be considering a bid for the white house in 2016. >>> and, anderson, pope benedict xvi blessed his internet followers in his first tweet today. the pontiff has nearly 1 million followers on this english twitter page alone. and has many other accounts in several other languages. some say he is the coolest pope in history. >> isha, thanks very much. >>> a former u.s.afghanistan. now, his parents fear he may die in a mexican prison. they're pleading for his safe return after what began as a surfing trip, it's turned into a nightma nightmare. w? >>> a new twist in the biza
to avoid the fiscal cliff. the warning comes after president obama talked with boehner last night on the phone. sources say it was a tense conversation. experts warn of a new recession if a deal can't be reached in 20 days. >>> new jersey governor chris christie says it's ridiculous to say he couldn't be president because of his weight. he pushed back at his critics in an interview with abc's barbara walters. the republican governor is rumored to be considering a bid for the white...
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fiscal cliff. there were strong warnings about jumping off the cliff today. federal reserve chairman ben bernanke said failure to strike a deal would cause huge damage to the economy. >> if the economy actually went off the fiscal cliff, our assessment, the cbo's assessment, outside forecasters all think that would have very adverse effects on the economy and on the unemployment rate. we cannot offset the full impact of the fiscal cliff. it's just too big. >> there was another figurehead on capitol hill today, urging a solution to the standoff. >> to parents everywhere, call your representatives today, tomorrow, and every day until they pass the tax cut that is so important to you all. >> i guess we're pulling out all stops. senate republican leader mitch mcconnell was not really in the holiday mood today. he claims the president is not giving republicans anything to work with. >> the president and his allies have taken so many things off the table, the only thing left is the varnish. >> well, that
fiscal cliff. there were strong warnings about jumping off the cliff today. federal reserve chairman ben bernanke said failure to strike a deal would cause huge damage to the economy. >> if the economy actually went off the fiscal cliff, our assessment, the cbo's assessment, outside forecasters all think that would have very adverse effects on the economy and on the unemployment rate. we cannot offset the full impact of the fiscal cliff. it's just too big. >> there was another...
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to avert the fiscal cliff with 19 days to go until a year-end deadline. >> i remain the most optimistic person in this town. but we've got some serious differences. >> woodruff: that downbeat assessment from house speaker john boehner came after he and president obama traded fresh offers this week. >> we spoke honestly and openly about the differences we face. but, the president's calling for $1.4 trillion worth of revenue. that cannot pass the house or the senate. >> woodruff: the president originally sought $1.6 trillion in revenue over 10 years, before lowering his target to $1.4 trillion. the money would come from raising rates on the top two percent of wage earners and curbing loopholes. boehner's counter was little changed-- $800 billion in revenues from closing loopholes and capping deductions, but no rate hikes. republicans have also demanded entitlement reform, and in a tuesday interview, the president would not rule out raising the medicare eligibility age by two years to 67. today, his white house spokesman, jay carney, summed up. >> he is willing to make tough choices and he
to avert the fiscal cliff with 19 days to go until a year-end deadline. >> i remain the most optimistic person in this town. but we've got some serious differences. >> woodruff: that downbeat assessment from house speaker john boehner came after he and president obama traded fresh offers this week. >> we spoke honestly and openly about the differences we face. but, the president's calling for $1.4 trillion worth of revenue. that cannot pass the house or the senate. >>...
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there was a hint of movement on the fiscal cliff deal between president obama and speaker boehner yesterday. here's where things stand for now. the white house sent over a proposal that lowered the revenue target for the president obama from $1.6 trillion to $1.6 trillion. he also increased spending cuts to $600 billion. so you have three things he's moving on there. speaker boehner was not impressed sending over his original offer of $800 billion in revenue. by the way that was the number last summer, summer of '11. acknowledged there's a long way to go. let's listen to him. >> i remain the most optimistic person in this town, but we've got some serious differences. the president and i had a pretty frank conversation about just how far apart we are. >> and in an interview with barbara walters, the president held firm and said time is running out. >> taxes are going to go up one way or the other. and i think the key is to make sure that taxes go up on the high end individuals like you and me, barbara. we can afford it. it is entirely possible for us to come up with a deal, but time is runni
there was a hint of movement on the fiscal cliff deal between president obama and speaker boehner yesterday. here's where things stand for now. the white house sent over a proposal that lowered the revenue target for the president obama from $1.6 trillion to $1.6 trillion. he also increased spending cuts to $600 billion. so you have three things he's moving on there. speaker boehner was not impressed sending over his original offer of $800 billion in revenue. by the way that was the number last...
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maybe congressional republicans dealing with the fiscal cliff should take note. coming to us from sacramento is the former california state treasurer that lead the commission that was tasked with figuring out the financial meltdown. welcome inside "the war room." >> good to be with you. >> jennifer: all right. what do you credit the expected surplus to? growing economy? prop 30? what is it? >> the economy is beginning to inch back in california but prop 30 obviously had a huge impact. what has been happening in california now for many years is the tide has turned away from the jarvis stage. local tax and bond measures have been passing all over the state where local leaders have had the courage to go to their residents and make the case for better schools, transportation, and public safety. 70% of the school bond measures which are increases in local property taxes passed. 80% in 2012. this has been going on for more than a decade and part of the reason i think we haven't seen it at the state or national level, is leaders had been timid to make the ask, and after
maybe congressional republicans dealing with the fiscal cliff should take note. coming to us from sacramento is the former california state treasurer that lead the commission that was tasked with figuring out the financial meltdown. welcome inside "the war room." >> good to be with you. >> jennifer: all right. what do you credit the expected surplus to? growing economy? prop 30? what is it? >> the economy is beginning to inch back in california but prop 30 obviously...
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. >>> coming up, when taxes are raised as part of the fiscal cliff deal, it means president obama and president lincoln will have one more thing coming. that's in the rewrite. >>> how hard will it be to beat hillary clinton in 2016? evenly one politician has a higher approval rating. we will tell you who coming up. clue. it is not the president. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. a body at rest tends to stay at rest... while a body in motion tends to stay in motion. stayi
. >>> coming up, when taxes are raised as part of the fiscal cliff deal, it means president obama and president lincoln will have one more thing coming. that's in the rewrite. >>> how hard will it be to beat hillary clinton in 2016? evenly one politician has a higher approval rating. we will tell you who coming up. clue. it is not the president. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise...
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cliff deal? >> yes, i think one of the reasons that the sequestration has gotten less attention is because the operating assumption -- more than assumption, i think the operating understanding of people involved in discussions is if you can resolve the other pieces then you can use the deficit reduction achieved from the other components, both the revenue component and the cut component to replace the sequester. whether you replace it on a 10 year basis which costs about $1 trillion or if you do it on a year basis which is about $110 billion. whatever we come up with as part of an agreement should certainly be able to offset at very least the first year of the sequester. if you can't get an agreement on all the issues, including the tax piece, could you come up with a smaller package to avoid the sequester? of course, that is possible but i don't know how likely. we could do that quickly if people were willing to put together a package of $110 billion in both revenue and cuts to replace the seque
cliff deal? >> yes, i think one of the reasons that the sequestration has gotten less attention is because the operating assumption -- more than assumption, i think the operating understanding of people involved in discussions is if you can resolve the other pieces then you can use the deficit reduction achieved from the other components, both the revenue component and the cut component to replace the sequester. whether you replace it on a 10 year basis which costs about $1 trillion or if...